Risk Disclosure

This risk disclosure statements are intended to inform the Client about the risk in the financial markets, especially in the Forex market. The financial markets have the potential of both enormous profit and high damage, so this brief warning does not disclose all the risks and all the important aspects of trading in the Forex market. Forex is a leveraged market and carries a high degree of risk to the trader capital, and it is possible to lose the entire investment. This market may not be suitable for all traders; therefore, it is necessary to take into account all the risks of the financial markets.

1. Market and trading risks

According to scientists’ researches, Forex is among the top five most stressful jobs in the world and for those who are not ready for that, can be drastically damaging. Those who are working in the financial markets, especially Forex, will encounter a lot of damage in long terms, and few who trade scientifically, programmatically, and unemotionally gain profit; therefore, there are guarantees of neither gaining profit nor avoiding losses when Client trades in the Forex market. The Client has received no such guarantees from Fxglory or from any of its representatives. The Client is, moreover, aware of the risks inherent in trading and is financially able to bear such risks and withstand any losses incurred.

In the Forex market commodities are leveraged products and involve a high level of risk. It is possible to lose all the capital invested. Therefore, these products may not be suitable for everyone but only for those traders who:

understand and are willing to assume the economic, legal, and other risks involved;

are experienced and knowledgeable about trading in derivatives and in underlying asset types;

are financially able to assume losses significantly in excess of margins or deposits because traders may lose the total value of the contract, not just the margin or the deposit.

CFDs are among the riskiest types of investments and can result in large losses. The Client represents, warrants, and agrees that he/she understands risks (the Client at the very least should assume the risks of trading CFDs) and that the loss of the Client’s entire account balance will not change his/her lifestyle.

2. Trading platform risks

Order execution

The Client acknowledges that once he/she sends a request or instruction, it will be executed in the order that arrives at the Company’s server, and he/she shall assume the risk of executing unplanned transactions in the case of sending another request or instruction before receiving the result from the request or instruction sent previously. Also, the Client acknowledges that when he/she closes the order window to place/modify/delete an order, as well as the window to open/close a position, the request or instruction which has been sent to the Company’s server will not be cancelled.
The Client must note that due to the market conditions or other circumstances, the Company may be unable to close the Client’s positions at the level specified by the Client, and he/she agrees that the Company will bear no liability for failure to do so.

One-click trading and immediate execution

Fxglory provides immediate transmission of the Client’s order once he/she enters the notional amount and clicks “Buy/Sell”. This means that there is no opportunity to review the order after clicking “Buy/Sell”, and market orders cannot be canceled or modified. This feature may be different from other trading systems you have ever used. The Clients should utilize the demo trading system to become familiar with the online trading system before actually trading online with Fxglory. The Client acknowledges and agrees that by using Fxglory’s One-click Trading system, he/she accepts the risk of this immediate transmission/execution feature.

Risk-reducing orders or strategies

The placement of certain orders (e.g. “stop-loss” orders, where permitted under local laws, or “limit” orders), which are intended to limit losses to certain amounts, may not be effective because market conditions may make it impossible to execute such orders. Strategies using combinations of positions, such as “spread” and “straddle” positions, may be as risky as taking simple “long” or “short” positions.

The market recommendations are informational; the Client makes independent decisions, and the Company is not an adviser or a fiduciary to the Client.

The market recommendations, opinions, news, research, analyses, prices, or other information contained on this website are provided as general market commentaries and neither constitute investment advice that the Company provides nor constitute an offer to buy or sell, or the solicitation of an offer to buy or sell, through any foreign exchange contracts. Each decision by the Client to enter a contract or other transaction with the Company and each decision whether a contract or other transaction is appropriate for the Client are independent decisions by the Client. The Company is not acting as an advisor or serving as a fiduciary to the Client. The Client agrees that the Company has no fiduciary duty to him/her and no liability in connection, and the Client himself/herself is responsible for any liabilities, claims, damages, costs, and expenses, including attorneys’ fees, incurred in connection with the Client, following the Company trading recommendations or taking or not taking any action based upon any recommendation or information provided by the Company.

Quoting errors

If a quoting error occur due to a mistype of a quote or a misquote given by the trading platform (including responses to the Client’s requests), Fxglory is not liable for any resulting errors in account balances and reserves the right to make necessary corrections or adjustments on the account involved. Any dispute arising from such quoting errors will be resolved on the basis of the fair market value, as determined by Fxglory, in its sole discretion of the relevant currency at the time such an error occurred.

3. Technical risks

The Client acknowledges the risk of financial losses caused due to the failure of electrical, transmission, communication, or information systems and the Company shall not be liable for any claims losses, damages, costs, or expenses caused directly or indirectly by any malfunction, disruption, or such failures. Also, while trading on the MetaTrader 4 platform, the Client shall assume the risk of financial losses due to the following causes:

Failure in hardware, software, Internet connection from the Client’s side

Inappropriate operation of the Client’s equipment

The MetaTrader 4 platform wrong settings

Delay in the MetaTrader 4 upgrade to the new version

Failure of not following the MetaTrader 4 user guide and rules for using it

4. Communication risks

The Client acknowledges that unencrypted information transmitted by email from the Company is not protected from unauthorized access; therefore, he/she is obligated to keep the information and passwords received from the Company safe and secure also, he/she shall assume the risks of any financial losses and trades executed by unauthorized access to the Client’s trading account(s) by a third party.

5. Effects of leverage and gearing

Forex is very risky, so before deciding to invest in the Forex market, a trader should carefully consider his/her investment objectives, level of experience, and risk appetite, also other circumstances. This possibility exists that a trader could sustain a loss of some or all of his/ her investment; therefore, a trader should not invest the money that he/she cannot afford to lose. The amount of initial margin is small relative to the value of the Forex contract, that’s why transactions are supported by "leverage".

The high degree of "gearing" or "leverage" is a particular feature of the Forex market. The effect of leverage makes investing in the Forex riskier than investing in the underlying asset. This stems from the margining system applicable to CFDs, which generally involves a small deposit relative to the size of the transaction, so that a relatively small price movement in the underlying asset can have a disproportionately dramatic effect on your trade. This can be both advantageous and disadvantageous. A small price movement in your favor can provide a high return to the initial deposit; however, a small price movement against you may result in significant losses that could exceed the money placed on the deposit. Such losses can occur quickly. The greater the leverage is, the greater the risk will be. The size of leverage; therefore, partly determines the result of the investment. The high degree of leverage available can work against you as well as for you. You may be liable for losses that exceed the amount of margin that you post. To manage exposure, you can employ risk-reducing strategies, such as "stop-loss" or "limit" orders.

6. Force majeure

The Client shall accept all risks of financial losses in case of any force majeure.

Force majeure events:

War, earthquake, flood, tsunami, hurricane, volcano, inferno, etc.

Interruption in different servers including, but not limited to website servers, software servers, proxy servers, etc. of the Company for any reason